NEW YORK – Did you put off filing your taxes? Don’t stress, there’s still time. 10 News is working for you to break down last-minute tips and resources, including how to file for an extension if you think you won’t meet the deadline.
[RELATED: What to know about Trump’s tax breaks for tips and overtime when filing state tax returns]
Recommended Videos
WHAT DO I NEED TO FILE MY TAX RETURN?
Here’s what every tax filer should have ready:
- Your Social Security number
- W-2 forms, if you’re employed
- 1099-G forms, if you’re unemployed
- 1099 forms, if you’re self-employed
- Savings and investment records
- Details on eligible deductions, such as education expenses, medical bills, or charitable donations
- Information on relevant tax credits, like the child tax credit or retirement savings contributions credit
For a more detailed document list, visit the IRS website.
TIP: Save yourself the time and trouble by gathering all your documents in one place before you start your tax return. If your financial situation has changed significantly, be sure to have last year’s documents handy, too.
TIP: Consider creating an identity protection PIN with the IRS to help guard against identity theft. Once you have a PIN, the IRS will require it to file your tax return.
HOW DO I FILE FOR AN EXTENSION?
If you run out of time to file your tax return, you can file for an extension using your preferred tax software, the IRS Free File tool, or via mail.
Remember, an extension gives you more time to file your return—not to pay any taxes owed. If you owe taxes, pay an estimated amount by the deadline to avoid penalties and interest. If you’re due a refund, you’ll still get your money when you file.
The deadline to file for an extension is Wednesday, April 15, which gives you until Oct. 15 to file your return.
WHAT DO I NEED TO KNOW WHEN IT COMES TO “NO TAX ON TIPS”?
The Department of the Treasury and the Internal Revenue Service have issued final regulations on the “No Tax on Tips” provision. The One, Big, Beautiful Bill final regulations provide the list of occupations that receive tips and define “qualified tips” that eligible taxpayers may claim as a deduction.
For more information, click here.
HOW CAN I AVOID MISTAKES WHEN FILING MY TAXES?
To steer clear of common errors:
- Double-check your name on your Social Security card.
- Search for tax statements if you’ve opted out of paper mail.
- Report all of your income.
WHAT RESOURCES ARE AVAILABLE?
If you make $89,000 or less per year, the IRS offers free guided tax preparation that does the math for you. If you have questions while working on your tax forms, the IRS also offers an interactive tax assistant tool.
Beyond TurboTax and H&R Block, taxpayers can also hire licensed professionals, such as certified public accountants. The IRS offers a directory of tax preparers across the United States.
The IRS also funds two types of programs that offer free tax help: Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly program (TCE). People who earn $69,000 or less a year, those who have a disability, and those who speak limited English all qualify for the VITA program. Those who are 60 or older qualify for the TCE program. The IRS has a site for locating organizations hosting VITA and TCE clinics.